In June 2007 IEB informed Fedbond that R35m of its R46m investment has been transferred to Capital Alliance Life and R5.2m to Channel Life due to a reinsurance agreement and a sale of business agreement. This is a reasonably long-term horizon, so you should consider some exposure to equities and other growth assets. They are for that reason inadmissible and unenforceable.”. The fund has full security in the form of these first mortgage bonds over the properties it has lent against. Setting up a business: sole proprietorship, partnership, or private company? Setting up a business: sole proprietorship, partnership, or private company? tweetLink = createTweetLink(getSelectedText(), e); Investec Asset Management recently experienced some trouble with pulling their money out of the investment, resorting to the courts. Talking to Fin24, our CEO Grant Field, addressed the continuing power crisis that is frustrating South Africans and how it is possible to look on the bright side. IEB supplied the relevant documents to comply with FICA (Financial Intelligence Centre Act). FedGroup has recourse in claiming rights on the property in the event a borrower should default. From Investec’s side, Ciaran Whelan is global risk manager and gave Investec’s side of the story in this special podcast. It would be great if there was a bit more disclosure around the cost to the client. You can select the unit trust that is best suited to your investment goals and horizon. If you stopped working and needed to maintain your current income level of between R19 200 and R24 200 per month, the capital of R1.5 million would last between five and seven years. Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process. jQuery('img[class*="wp-image-"]').bind('click', function () { Do you have any questions you would like answered by registered financial planners? Terms of use. Federated Group is a premier sales and marketing company in the grocery, foodservice, drug and convenience store business. Fedgroup now offers our range of unit trusts from our award-winning Umbrella Fund to the public for the first time. Whelan explained “thankfully the capital amount, the R46m, some of the interest has been paid, it was paid during the period… the total interest came to about R9m. } jQuery(document).on('click', 'a[href*="#to-comments"]', function (event) { In an ideal world the regulator would intervene if it saw that the company was in financial difficulty or if its financial position was deteriorating. The fund currently has over R1.5 billion invested in it from 6 000-plus investors. 9 QUESTIONS | John Field, CEO of FedGroup Financial Services, on SA's part bond industry. These properties are used as collateral for these loans, so there is an asset of value that can be attached in the event of default. newTweetLink.id = "tweetLink"; 45563 FINANCIAL SERVICES PROVIDER Financial Advisory and Intermediary Services Act, 2002 It is hereby … At 9.5% pa you could invest R726 300 in the part bond before you start paying tax on your interest income. Fedbond is a subsidiary of privately owned Fedgroup. See the complete profile on LinkedIn and discover John… else { I am a 75-year-old married man without a pension. There are also rules which the scheme must follow which ensures stability and security. As it’s a private company, it is difficult to determine the financial stability of the business. His first business was selling stickers in primary school. You have to be logged in to send a message. In addition, investors do have the opportunity to withdraw capital earlier, subject to conditions (as per other term products). These are selected according to the purpose of use of the developed product. event.preventDefault(); The uproar regarding SA’s procurement of the Covid-19 vaccine. Many of our senior investors enjoy the option of withdrawing monthly interest should they need an income option. See the complete profile on LinkedIn and discover John… You will be redirected to a checkout page. If withdrawn, the procedure was “individual notices… at intervals not shorter than those at which those investments had initially been made”. Your portfolio would be able to sustain an inflation-protected income of around R10 000 per month from now until age 90 assuming a 9% pa return. “The investments were not placed as a five-year investment but were part of the long-term funding arrangements of Fedsure for Fedbond.”. With R1.5 million of your money earning interest, you’re certainly earning more than the R34 500 interest exemption. The defence put forward by Fedbond was that a “common understanding” was established within the old Fedsure Group that Fedlife wouldn’t withdraw the total investment. FedGroup is South Africa’s largest independent financial services provider, allowing us to make decisions in the best interests of investors. Fedgroup Financial Services (Pty) Ltd (Registration number 2012/000697/07) is registered with the Financial Services Board and is an Authorised Financial Services Provider, license number 45563. See the complete profile on LinkedIn and discover John… The uproar regarding SA’s procurement of the Covid-19 vaccine. He says his studies 'taught me how to think’, and this proved invaluable when he started his own business after graduation. * Mandatory field. }); Here are a few of the branded fabrics used in the John Field Collection. At 7.35% pa you can invest R938 775 in interest-bearing assets. JOHN FIELD LTD, 220 MICHELIN HOUSE, 81 FULHAM ROAD, LONDON SW3 6RD +44 (0) 20 7349 1270 . 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